Cendas: Inflation in Venezuela rising 1.5 percent daily

According to Oscar Meza, Director of the Center for Documentation and Social Analysis of the Venezuelan Federation of Teachers (Cendas), inflation in Venezuela is rising by almost 1.5 percent each day and could reach 450 percent by the close of November 2016 (Tal Cual, 28 November 2016). Meza added that a Venezuelan must earn nineteen minimum wages to afford the price of the basic food basket, compared to 1998, when two minimum wages were required to purchase the basic food basket (Globovisión). President of polling firm Datanálisis Luis Vicente León stated on 28 November that in 2017, Venezuela will experience the highest levels of inflation in its history, exceeding the 2016 inflation rate by 400 percent (Panorama).